Guardant Health, Inc. $GH Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in shares of Guardant Health, Inc. (NASDAQ:GH) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,235 shares of the company’s stock after selling 325 shares during the period. Fifth Third Bancorp’s holdings in Guardant Health were worth $324,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. SVB Wealth LLC purchased a new stake in Guardant Health in the 1st quarter valued at $54,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Guardant Health in the 1st quarter valued at about $97,000. CWM LLC increased its holdings in shares of Guardant Health by 180.3% in the 1st quarter. CWM LLC now owns 2,296 shares of the company’s stock valued at $98,000 after purchasing an additional 1,477 shares in the last quarter. Nkcfo LLC acquired a new stake in Guardant Health in the 1st quarter valued at about $107,000. Finally, PNC Financial Services Group Inc. grew its stake in Guardant Health by 25.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $112,000 after acquiring an additional 537 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $59.45, for a total value of $17,835,000.00. Following the transaction, the chief executive officer owned 2,123,499 shares in the company, valued at approximately $126,242,015.55. This represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the transaction, the director owned 851 shares in the company, valued at $46,090.16. This represents a 71.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 302,691 shares of company stock worth $17,981,965 in the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Guardant Health Trading Up 0.8%

GH stock opened at $62.48 on Wednesday. Guardant Health, Inc. has a one year low of $20.14 and a one year high of $68.00. The firm has a market capitalization of $7.79 billion, a PE ratio of -18.65 and a beta of 1.46. The firm has a 50-day moving average of $56.27 and a two-hundred day moving average of $49.16.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $232.09 million for the quarter, compared to analysts’ expectations of $211.19 million. Guardant Health’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.84) earnings per share. Guardant Health has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analysts Set New Price Targets

GH has been the topic of several analyst reports. Guggenheim raised their price target on shares of Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Wells Fargo & Company assumed coverage on shares of Guardant Health in a research note on Monday, September 22nd. They set an “overweight” rating and a $72.00 price objective on the stock. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Scotiabank boosted their target price on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial boosted their price target on shares of Guardant Health from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the stock. According to MarketBeat.com, Guardant Health currently has a consensus rating of “Buy” and a consensus price target of $65.25.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.